U.S. stock futures traded mixed ahead of the opening bell on Friday, after global markets were hit by OPEC's announcement that it would not cut its output.
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The news comes as U.S. markets reopen on Friday for a shortened session, closing at 1 p.m. ET. Volumes will likely be low as it is Black Friday.
On Thursday, the 12-member oil cartel OPEC announced it would hold its output target at 30 million barrels per day, triggering a sharp decline in oil prices. The decision surprised some market professionals, who had forecast that Saudi Arabia would push through a cut.
No major economic data is due from the U.S. on Friday. No big name companies are due to report earnings.
Ahead of the opening bell, Exxon Mobil, Chevron and other oil majors are under pressure from a further drop in the price of oil after this week's OPEC meeting. Also under pressure are oilfield-services companies such as Halliburton, Baker Hughes, Transocean, and Schlumberger.
Airline stocks continue to benefit from the drop in oil prices.
Friday is also the final trading day of November, and barring an epic selloff the Dow and S&P 500 will post a second straight month of gains and 8th in 11 months this year. The Nasdaq will also post a second month of gains, but only its 7th in 11 months (it was down in April while the others were higher).
The Dow will end November having not lost ground in back-to-back sessions since Oct. 15-16.
—CNBC's Peter Schacknow contributed to this report.